Daily Trading Strategy [ADR + RSI = High Probability]

Quoting meck1

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{quote} Yea trending pairs are a disaster with counter trading strategies, I was also thinking maybe taking trades which fulfill the requirements at a major S/R level maybe. That way the stop will be protected by the S/R level plus we'll be trading the bounces of those levels. Pretty good confluences.

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Quoting PipBros

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{quote} Or trade should be in the direction of the trend

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Quoting broncoviz

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eurgbp 5min signal

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Quoting meck1

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Trades from the past 20 days using 1:1 risk reward ratio Wins Loses GbpUsd 15 3 EurUsd 14 3 UsdJpy 10 6 UsdChf 13 2 UsdCad 10 2 AudUsd 10 1 EurGbp 14 0 EurAud 8 5 EurChf 14 2 EurJpy 8 4 If we are risking 1 % per trade so that all trades are equal despite pips made we would make 116 - 28 = 88% profit in the past 20days Here I didn't add anything to the system, I just followed the rules and avoided trades at 10pm GMT+2 ( because of big spreads) and also no trades on NFP (because spikes will distort ADR readings). I'll backtest 10 more pairs tomorrow...

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Quoting edwinjil

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{quote} Bro the only way we can know if it is sustainable is if you choose to back test a random month eg August 2019, April 2020 or any random month from the past and we compare results. Otherwise, good job done. Remember that the market keeps mutating, so if this system can withstand the mutation, then we are good to go

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Quoting meck1

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{quote} That's very true , if it survives random months it will really be impressive. We'll find a way to run it through more past data

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Quoting sixbuttons

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{quote} So, finding a long term historical ADR indicator is pretty key at this point I think. Next week I'm going to try applying a HMA (haven't decided on the period) to the daily to confirm trade direction and also take early profit or loss if the MACD LWMA starts to turn back. Hopefully this can avoid full losses whilst not damaging profit potential. Still an initial 1:1 RR.

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Quoting christos1967

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Can I ask you, people, something? Are you looking for 5 pips on every trade or you go for more based on the RR

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Quoting Pip Bull

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{quote} What about the one in Post 284.

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Quoting zoheb01

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Hey Guys, Firstly, apologies I've not been active on this thread over the past week, but I've been keeping a close eye on it and I'm so happy of the success people have been having with this strategy. I would also like to thank meck1, PipBros, varseb, Brmg3620 and the others who have been posting their before and after charts. I've also enjoyed reading about the slight variations to the entry/stop/take profit as their is not official rule, it what works best for you - more on this later. Two main things from reading the comments is an MT4 template...

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Quoting BWilliam

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{quote} Try this adr band that shows the day high/low(gold dot line) and the ADRhigh(Green) and ADRlow(Red). Input options for period, color and lookback. Cheers. {file} {image}

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Quoting zoheb01

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Hey Guys, Firstly, apologies I've not been active on this thread over the past week...

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Quoting meck1

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{quote} Glad to see you back and the risk calculater makes alot of sense. Let me play around with it and check it out and thanks for the detailed video

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